Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h −0.058%

Price spread now: 01 Exchange against BingX+0.080%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and 01 Exchange is 0.080% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDT	0.2125	0.0100	pay 0.0050% / 4h	28m 12s	—	$32.6M	—
Short	01 Exchange ENAUSD	0.2127	0.0192	get 0.0024% / 1h	28m 12s	$4K	$302	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee 01 ExchangebpOrdersPrice spread, now +0.080%Rate

Funding earned: $19.32
Price spread: +0.080% → 0.000%: $8
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $10.32
Costs to cover: 0.170%
Break-even: 3.3 days

Slippage unknown: BingX: live order book, 11 min ago; 01 Exchange: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 11 min ago	0.70 bp	5.7 bp −$6	8.2 bp −$82	12.6 bp −$1,263	33.0 bp −$16.5K
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ENA on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ENA_USDC	−0.0012%	4h	0.2129	+0.169%	$41K	$24K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2125	+0.019%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0027%	1h	0.2122	−0.127%	$375K	$445K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.071%	$522	$57K	5.5x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0079%	1h	0.2130	+0.235%	$93K	$1.7M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.005%	$63K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	−0.073%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	+0.066%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	−0.011%	$411K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2128	+0.131%	$131.6M	$452.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2127	+0.113%	$89.4M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	+0.113%	$20.6M	$111.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2116	−0.433%	$15K	$398K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	+0.005%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.395%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.028%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.005%	$46.7M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.047%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2127	+0.118%	$48.2M	$64.0M	75x	as long as short
BingX ENA-USDTlong	+0.0100%	4h	0.2125	long leg	—	$32.6M	—
Variational Omni ENA	+0.0100%	4h	0.2119	−0.273%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	−0.107%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	−0.232%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	−0.042%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+0.014%	$179K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.400%	$956	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2129	+0.193%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.447%	$278K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.099%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.032%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2129	+0.181%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	−0.325%	$7K	$347K	10x	as long as short
01 Exchange ENAUSDshort	+0.0192%	1h	0.2127	+0.080%	$4K	$302	10x
Extended ENA-USD	+0.0224%	1h	0.2128	+0.151%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2130	+0.261%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+0.005%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2118	−0.339%	$5.6M	$6.5M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.052%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0544%	1h	0.2130	+0.240%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.320%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0780%	1h	0.2128	+0.160%	$114.3M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1727%	1h	0.2125	+0.015%	$140K	$15K	5x	as long as short